According to The Guardian, which reliably has interesting stories on US and global news from a different (and often more informed) perspective than the US news machine, has received confidential information about additional fines being considered. According to the article BP faces extra $60bn in legal costs as US loses patience with Gulf clean-up
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The oil disaster unfolding in the Gulf of Mexico could present BP with much higher costs than previously thought as a result of US government penalties of up to $60bn (£40bn), according to City analysts.
The penalties are in addition to BP's already huge bill for the clean-up mission, which stood at $760m yesterday, and potentially unlimited damages payable by the company to fishermen and other affected local communities. BP also faces billions of dollars of lost earnings as a result of its damaged reputation in the US, which could result in it being barred from bidding for future contracts.
So some good news. The article is worth reading. It sounds like the basic gist is that the US gov't is assessing how to calculate the amount of oil released, and the fines to be imposed - $1,100 per barrel of oil and gas, and $4,300 per barrel if gross negligence was a factor.
BP had been relying on official estimates for the spill of 5,000 barrels per day, which are based on satellite images taken of the surface of the sea above the leaking pipeline. But BP has been pumping hundreds of thousands of gallons of chemical dispersant close to the leak, resulting in vast underwater oil slicks. The company recently admitted that the actual figure is likely to be higher and some scientists say 115,000 barrels of oil per day are spewing into the Gulf. BP would be liable for $60bn in civil penalties if oil continues to leak at the highest estimated level for the next two months, when a relief well being drilled to plug the reservoir is completed.
So that's something. I've been interested in hearing about the impact of the released gas - since it's being released under great pressure, the volume of gas being released is dramatically larger than the oil, but I haven't heard much discussion about that. Is it rising to the surface? Will it have a significant impact on the local environment?
Another thing I've been curious about is how this would have played out under the Bush Administration - just something to discuss. This issue is triggering a lot of conflict on DK, and I find it interesting how the narratives change, with a Dem president. I don't follow right-wing discussion sites anymore, so I'm curious about what their perspective is - are they blaming Obama, or justifying this as a necessary risk, or angry about foreign companies polluting America, or sympathizing with the affected communities, or ranting about illegal immigrants?